Rowan Companies PLC Forecasted to Earn Q2 2018 Earnings of ($0.96) Per Share (RDC)

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Rowan Companies PLC (NYSE:RDC) – Investment analysts at B. Riley increased their Q2 2018 earnings per share (EPS) estimates for Rowan Companies in a research note issued on Monday, June 11th. B. Riley analyst T. Curran now anticipates that the oil and gas company will post earnings of ($0.96) per share for the quarter, up from their prior forecast of ($0.99). B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. B. Riley also issued estimates for Rowan Companies’ Q3 2018 earnings at ($0.90) EPS, Q4 2018 earnings at ($0.78) EPS, FY2018 earnings at ($3.51) EPS, Q1 2019 earnings at ($0.83) EPS, Q2 2019 earnings at ($0.74) EPS, Q3 2019 earnings at ($0.69) EPS, Q4 2019 earnings at ($0.63) EPS and FY2019 earnings at ($2.90) EPS.

A number of other equities analysts have also recently commented on RDC. ValuEngine raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. TheStreet lowered shares of Rowan Companies from a “c” rating to a “d+” rating in a report on Tuesday, May 1st. Wells Fargo & Co upgraded shares of Rowan Companies from a “market perform” rating to an “outperform” rating in a report on Saturday, June 2nd. Cowen reiterated a “hold” rating and set a $12.00 price objective on shares of Rowan Companies in a report on Thursday, March 15th. Finally, Credit Suisse Group lifted their price objective on shares of Rowan Companies from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.05.

Rowan Companies opened at $15.39 on Wednesday, Marketbeat reports. Rowan Companies has a 12 month low of $9.02 and a 12 month high of $17.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.03 and a quick ratio of 6.03. The stock has a market cap of $2.08 billion, a P/E ratio of -24.05 and a beta of 1.79.

Rowan Companies (NYSE:RDC) last released its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.03). Rowan Companies had a negative return on equity of 3.83% and a negative net margin of 4.46%. The firm had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $207.33 million. During the same period in the prior year, the firm posted $0.07 earnings per share. Rowan Companies’s revenue for the quarter was down 43.6% on a year-over-year basis.

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Rowan Companies by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 493,388 shares of the oil and gas company’s stock valued at $5,694,000 after purchasing an additional 3,013 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Rowan Companies by 1.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 216,308 shares of the oil and gas company’s stock valued at $2,496,000 after purchasing an additional 3,582 shares in the last quarter. Meadow Creek Investment Management LLC raised its holdings in shares of Rowan Companies by 28.6% in the 4th quarter. Meadow Creek Investment Management LLC now owns 20,502 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 4,556 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Rowan Companies by 9.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 60,316 shares of the oil and gas company’s stock valued at $945,000 after purchasing an additional 5,199 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Rowan Companies by 3.1% in the 4th quarter. Swiss National Bank now owns 202,000 shares of the oil and gas company’s stock valued at $3,163,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Rowan Companies Company Profile

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

Earnings History and Estimates for Rowan Companies (NYSE:RDC)

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